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Bania Inc. recently reported $168,000 of sales, $98,750 of operating costs other than depreciation, and $15,700 of depreciation. The company had $20,750 of outstanding bonds

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Bania Inc. recently reported $168,000 of sales, $98,750 of operating costs other than depreciation, and $15,700 of depreciation. The company had $20,750 of outstanding bonds that carry a 6% interest rate, and its federal-plus-state income tax rate was 25%. How much was Bania's net income? Round to the nearest dollar $39,229 $52,305 $48,496 $39,384

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